tMain do?invoker &takeAssignmentSessionLocator-assignment-take8uinprogress faise Calculator Problem 7-17 (b) (LO. 3) On July 31, 2018, Jessica-Anne received land and a building from Janice as a gift. Janice's adjusted basis and the fair market value at the date of the gift are as follows Asset Land Building FMV $260,000 700,000 Adjusted Basis $200,000 640,000 Janice paid gift tax of $60,000 on the transfer. Round any division to four decimal places. Round your final answers to the nearest dollar. a. Determine Jessica-Anne's adjusted basis for the land and building. Jessica-Anne's total basis for the assets received from Janice is 21,346 x. Jessica-Anne's adjusted basis for the land is 21,346 X Jessica-Anne's adjusted basis for the building is 645,143 X Property received by gift can be referred to as dual basis property; that is, the basis for gain and the basis for loss might not b tMain do?invoker &takeAssignmentSessionLocator-assignment-take8uinprogress faise Calculator Problem 7-17 (b) (LO. 3) On July 31, 2018, Jessica-Anne received land and a building from Janice as a gift. Janice's adjusted basis and the fair market value at the date of the gift are as follows Asset Land Building FMV $260,000 700,000 Adjusted Basis $200,000 640,000 Janice paid gift tax of $60,000 on the transfer. Round any division to four decimal places. Round your final answers to the nearest dollar. a. Determine Jessica-Anne's adjusted basis for the land and building. Jessica-Anne's total basis for the assets received from Janice is 21,346 x. Jessica-Anne's adjusted basis for the land is 21,346 X Jessica-Anne's adjusted basis for the building is 645,143 X Property received by gift can be referred to as dual basis property; that is, the basis for gain and the basis for loss might not b